OREANDA-NEWS. June 20, 2014. Government of Kazakhstan and the World Bank (WB) signed a grant agreement on implementation of project "Improving the energy efficiency of Kazakhstan" in the amount of USD 21.7 million in Astana.

Deputy Prime Minister - Minister of Industry and New Technologies Asset Issekeshev signed from the Government side and WB Resident Representative in Kazakhstan Sebnem Akkaya from the World Bank side.

According to A. Issekeshev, during the project implementation, it is planned to modernize public social projects in all regions of the country, including schools, kindergartens, hospitals, street lighting facilities. Funding will also be used to improve the institutional framework and the work on creation of sustainable mechanisms for energy financing.

"This project will help to increase the state potential to achieve the energy efficiency. And we expect this project will bring well measurable quantitative results through application of measures in individual, selected by project, socially significant facilities," S. Akkaya said.

The funding will be used as part of the Energy Efficiency Program. Its objectives are to reduce GDP energy intensity for 25% by 2020. Analysis of the structure of energy consumption in Kazakhstan shows that in implementation of energy conservation policy it is necessary to make a special emphasis on three key sectors - industry, including energy, transport and sector of housing and communal services.